Holders of Visa cards in Russia now have the opportunity to check their subscriptions, as well as the availability of saved cards in online stores, in which users previously made a payment, Izvestia was told in the payment system. Its representative clarified that such functionality became available to partner banks of a financial institution in 2021, and many of them plan to implement it in their mobile applications.
The service has already begun to be implemented by VTB, Home Credit and MTS Bank, their representatives told Izvestia. They also plan to implement the technology in SKB Bank, they are studying this possibility in Rosbank, PSB, UBRD and Dom.rf, and do not exclude the launch of functionality in Novikombank.
This service will allow you to control, first of all, outdated subscriptions, which the client could have forgotten, as well as services that enable regular write-offs with an inadequate level of information, explained in Otkrytie. VTB emphasized that the new service increases the security of storing customer data, since when a card is linked in an online store, not its number, but a token, is saved.
Mastercard told Izvestia that the subscription management service is in the process of being implemented, adding that this tool is based on tokenization technologies and artificial intelligence. Such services are also in the area of attention of the National Payment Card System (MIR card operator and SBP clearing center), they said, recalling that such functionality has already been tested in the fast payment system.
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